Would it be possible for you to test the latest upstream kernel? Refer to https://wiki.ubuntu.com/KernelMainlineBuilds . Please test the latest v3.8 kernel[0] (Not a kernel in the daily directory) and install both the linux-image and linux-image-extra .deb packages.

If this bug is fixed in the mainline kernel, please add the following tag 'kernel-fixed-upstream'.

If the mainline kernel does not fix this bug, please add the tag: 'kernel-bug-exists-upstream'.

If you are unable to test the mainline kernel, for example it will not boot, please add the tag: 'kernel-unable-to-test-upstream'.
Once testing of the upstream kernel is complete, please mark this bug as "Confirmed".

There are two issues. ureadahead is using a deprecated and now removed interface to ftrace to enable tracing. The kernel interface for open has changed the type of the filename, producing junk for filenames.

The verification of this Stable Release Update has completed successfully and the package has now been released to -updates. Subsequently, the Ubuntu Stable Release Updates Team is being unsubscribed and will not receive messages about this bug report. In the event that you encounter a regression using the package from -updates please report a new bug using ubuntu-bug and tag the bug report regression-update so we can easily find any regresssions.

I can confirm i am having the same issue on Xenial, my syslog gets flooded with millions of ureadahead messages, i restarted and i havent seen it happen as yet again. This usually happens when you start up the PC.